Hanover House & Hanover Court, 19-20 Hanover Buildings Southampton Hampshire SO14 1JH

Hanover House & Hanover Court, 19-20 Hanover Buildings
Southampton
Hampshire
SO14 1JH

Substantial Freehold Retail & Residential Investment

Majority let to Bella Italia Restaurants Ltd
Includes vacant possession of large ground floor retail unit
Nearby occupiers include Santander Bank, Pizza Hut, Laura Ashley and Primark
Established retail area adjacent to the Bargate Shopping Centre and close to West Quay Shopping Centre (over 90 units)
6 Week Completion Period Available

Lot
20
Auction
26th May 2011
Rent
£70,000 per Annum Exclusive
Status
Sold
Price
£1,020,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On Instructions from Stockland

Important Update Interested?

Expand
Photos
Map

Substantial Freehold Retail & Residential Investment

Majority let to Bella Italia Restaurants Ltd
Includes vacant possession of large ground floor retail unit
Nearby occupiers include Santander Bank, Pizza Hut, Laura Ashley and Primark
Established retail area adjacent to the Bargate Shopping Centre and close to West Quay Shopping Centre (over 90 units)
6 Week Completion Period Available

Lot 20
Auction 26th May 2011
Rent £70,000 per Annum Exclusive
Status Sold
Price £1,020,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On Instructions from Stockland

Property Information

Location

Miles: 18 miles north-west of Portsmouth, 30 miles north-east of Bournemouth
Roads: A3024, M27, M3 (Junction 14)
Rail: Southampton Central Railway Station
Air: Southampton International Airport

Situation

The property is situated in a prominent position on the southern side of Hanover Buildings, at its junction with York Buildings opposite Houndwell Park. The property benefits from a strategic position being adjacent to Bargate Shopping Centre and some 250 metres from West Quay Shopping Centre. Other nearby occupiers include Santander Bank, Pizza Hut, Laura Ashley and Primark.

Tenure

Freehold.

Location

Miles: 18 miles north-west of Portsmouth, 30 miles north-east of Bournemouth
Roads: A3024, M27, M3 (Junction 14)
Rail: Southampton Central Railway Station
Air: Southampton International Airport

Situation

Tenure

Freehold.

Description

The property comprises two buildings. Hanover House forms part of a parade of shops and comprises two retail units, one of which has a return frontage along York Buildings, with residential accommodation over first, second and third floors. Hanover Court to the rear of Hanover House, comprises a former nightclub with residential accommodation.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Hanover House No. 20 – Ground	Retail	268.30 sq m	(2,888 sq ft)	FULL VACANT POSSESSION
Hanover House No. 19 – Ground	Restaurant	362.00 sq m	(3,897 sq ft)	BELLA ITALIA RESTAURANTS LIMITED (1)	15 years from 23/05/2003	£70,000	23/05/2013
Hanover House – Part Ground, First, Second & Third	Residential	Not Measured	Not Measured	INDIVIDUALS	150 years from 26/05/2003	Peppercorn
Hanover Court – Part Ground	Nightclub/ Residential	Not Measured	Not Measured	BAJAR ESTATES LIMITED	150 years from 24/06/2003	Peppercorn
Hanover Court – Part Ground & Uppers	Residential	Not Measured	Not Measured	BAJAR ESTATES LIMITED	150 years from 24/06/2003	Peppercorn
Totals		630.30 sq m	(6,785 sq ft)			£70,000

(1) For the year ending 30th May 2010, Bella Italia Restaurants Limited reported a turnover of £67,248,000, pre-tax profits of £11,950,000 and a net worth of £46,013,000.
(Source: www.riskdisk.com 18/04/2011) Bella Italia has been bringing a taste of Italy to the UK since the early 1990s. There are over 75 Bella Italia restaurants in the UK with locations ranging from Inverness to Jersey via the Midlands and London. (Source: www.bellaitalia.co.uk)